What’s the Minimum Credit Score for the Amex Platinum Card?
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Written by
Andrew Lisa
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Edited by
Jasmin Baron
Your credit score indicates your risk of default to lenders. Many issuers will approve lower-score borrowers for cards with higher interest rates, lower credit limits and lesser rewards, but not Amex — and certainly not for a prestigious card like The Platinum Card® from American Express (a CardCritics™ advertiser).
Considering Amex issues the vaunted Centurion® Card from American Express**, or Black Card, the Amex Platinum is not its most exclusive offering, but it’s close — and you’ll need a high credit score to get one in your wallet.
Credit Score Requirement for the Amex Platinum
The Amex Platinum card requires good to excellent credit for consideration. However, in most cases, good isn’t good enough. Like most card issuers, American Express uses FICO to examine and vet applicants’ creditworthiness.
American Express also considers your income with your creditworthiness. Your income must be high enough that they can trust you to pay the card’s high annual fee of $895 without financial hardship.
As per the industry standard, American Express doesn’t state a specific score or income minimum, but according to Credit Karma, the average Amex Platinum cardholder is 42 years old and has a $104,061 annual income.
Factors That Influence Your Credit Score
FICO considers five factors when assigning credit scores, but some factors carry more weight than those that lenders see as less important.
- Payment history (35%): The most important factor is whether or not you make payments on time, every time. Even one late payment can send your score tumbling.
- Amounts owed (30%): This factor represents your credit utilization ratio. That’s the amount of credit you’re using in relation to the amount you have available — and keeping it low is nearly as critical as making payments on time. Creditors do not like to see cards with high revolving balances and prefer those who utilize less than 30% of their open credit.
- Length of credit history (15%): Lenders appreciate a long history of borrowing and repaying.
- Credit mix (10%): Lenders also prefer a varied mixture of accounts, including home loans, installment loans and revolving credit.
- New credit (10%): When you apply for too much new credit too quickly, it can make you appear desperate and make lenders think twice.
How To Improve Your Credit Score
If your credit is not where it needs to be for consideration for the Amex Platinum, take the following steps to improve your score.
- Know your score: Your banking app or the official, federally mandated site AnnualCreditReport.com can give you a detailed review of your credit report and/or score. Learn it, study it, scour it for mistakes and report any that you find.
- Keep the on-time payments coming: Lenders care most about payment history and credit utilization, so you should, too. Start by doing no harm — don’t miss a single payment for any reason, and contact your lender to work something out if you can’t make one on time.
- Pay down debt: At the same time, put every extra dollar toward paying down your credit cards — don’t worry about paying extra for your mortgage or personal loans. Concentrate on growing your open revolving credit by shrinking your debt.
Application Process for the Amex Platinum Card
If you’re interested and eligible to apply, visit our Amex Platinum review page and take the following steps.
- Click the green ‘Apply Now’ button to be securely transferred to the American Express website.
- Read all the information about the card’s benefits, fees, payment structure and limits, including the fine print.
- If you think it’s for you, take advantage of Amex’s soft-pull pre-application review by clicking the blue “apply now” button. You’ll notice the “apply with confidence” reference. This means you will receive a decision on your application without a hard credit pull.
- Complete the application and review it for accuracy and completeness — even a minor, non-financial error, like a wrong address, can reduce your chances of success.
- If you are approved and you choose to accept the card, the information Amex provides to the credit bureau(s) may impact your credit score.
- Keep in mind, the Amex Platinum is somewhat of a hybrid card in that it combines features of a charge card and a credit card. Typically with a charge card, you must pay off your entire balance in full each month. Credit cards allow you to carry a balance from one month to the next, though you will need to pay interest on the balance you carry over. With the Amex Platinum you have the option to use the Pay Over Time feature.
What Happens If You’re Denied for the Amex Platinum?
If your “Apply with Confidence” application is denied, you can request a review of the decision or reapply after a waiting period. Your credit score will not be affected by the denial. If you request a review of the decision you’ll receive what’s called an adverse action letter, which explains where American Express got the information it used in its decision and precisely which factors on your credit report and in your overall financial profile influenced the outcome.
If you choose to appeal the rejection, call the Amex Reconsideration Line for Disputed Declines at (800) 567-1083. Have all your information ready from the application, as well as any new information you may have omitted that you think might help your case. If you choose to reapply, American Express asks that you wait at least 30 days.
Alternative Cards With Lower Annual Fees
The Amex Platinum is an expensive luxury travel card. If you and your credit score aren’t ready for the big leagues just yet, consider a non-luxury travel card that’s more affordable and has more forgiving eligibility standards. Top contenders, all of which accept applicants with a minimum score in the good range and have a lower annual fee (or no fee at all), include:
- Chase Sapphire Preferred® Card – $95 Annual Fee
- Capital One Venture Rewards Credit Card – $95 Annual Fee
- Bank of America® Travel Rewards credit card – $0 Annual Fee
Is the Amex Platinum Worth It for Your Credit Score?
As with all cards that charge an annual fee, the Amex Platinum is worth it if you harvest more in rewards each year than you pay to own the card. If accepted, the following benefits can help justify the fee and put you ahead.
- You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
- More than $3,000 in available annual travel, entertainment and dining rewards, including a $600 hotel credit, $400 Resy credit, $300 Lululemon credit, $300 digital entertainment credit, $200 Oura credit, more than $500 in airport lounge access, a $155 Walmart+, $200 for Uber Cash, $120 Uber One credit, a $200 airline fee credit and more. (Enrollment required, see terms and conditions for details)
- 5X points on flights booked directly with airlines or through American Express Travel (on up to $500,000 spent each year) and 5X points on prepaid hotels booked on AmexTravel.com.
**All information about the Centurion® Card from American Express** has been collected independently by CardCritics™
Frequently Asked Questions
The answers to the following frequently asked questions can help you decide if the Amex Platinum is right for you.
Can you apply for the Amex Platinum with a 650 credit score?
You can apply with any score, but you should have at least good or excellent credit.
Does being an existing American Express cardholder improve your chances?
Yes, existing cardholders might have a better chance at success, particularly if they use their current Amex card or cards frequently and responsibly, with on-time payments and low utilization ratios.
What are the best ways to raise your credit score quickly for premium cards?
Paying off existing revolving debt — especially on cards with high credit utilization ratios — is the fastest way to boost your score.
